Project Group №2 →
Corporate law and governance, financial transaction taxes
Project Group №1
Financial infrastructure and financial market regulation
- Task
- Personalia
- Documents (3)
- In media (388)
SRO Bill Becomes Law, Passes Second Reading
01.07.2015 12:00 / TASS
At the same time, SROs may list members from various segments, subject to their compliance with rules.
The law is aimed at developing non-banking financial market SROs.
The law introduces SROs for brokers, dealers, asset managers, depositaties, registrars, specialized depositaries, non-state pension funds (NPFs), share investment funds and their management companies, insurers, mutual insurance societies, insurance brokers, microfinance companies etc.
SRO oversight will be performed by the Bank of Russia, authorized to issue fines, demand replacement of SRO management, grant and revoke SRO status. The Bank of Russia may delegate certain regulation and oversight functions to SROs.